Dummy mummy to Yummy mummy

Mummy+2

Hi

So I thought I would start a diary or just put down my daily trials as a mummy trying to get it together. I apologise now as I might go off point at times, although becoming debt free is my biggest goal there is a whole host of other things I need to sort out! I'm 13.5k into clearing a 15k debt so not long to go!, I then I need tackle my 4.8k car finance! I also want to deal with the following -

Meal Planning
Loosing weight - about 5st
Sorting my house out - it's a mess all the time
My daughters behaviour
My Social life or lack off! Apart from work I don't really see anyone and spend a good chunk of my week alone with the kids

So a bit about me, I'm a 31 year old slummy mummy to 2 very beautiful little people. My daughter is 5 and my son 19 months, they bring me joy and drive me crazy in equal measures lol I separated from my husband over a year ago and it's been quite messy but things are slowly settling down. I work part time too so I am always busy and there is never enough time in the week.

I'm hoping that this dairy will help me stick to my budgets and keep me from over spending. I'm open to suggestions, tips and tricks of the trade from all along the way.

Anyway that's enough for now as I need to updated my budget sheets that I will share with you shortly.

TTFN

beanielou

Happy shiny new diary
You are doing so well with your debt clearing
Keep posting!

Mummy+2

beanielou wrote: »

Happy shiny new diary
You are doing so well with your debt clearing
Keep posting!

Thank you, it has been a long hard few years but I am so close now. I can't actully beleive it!

Yes I have other debt (4.8k car loan) but I look at this as managable finance rather than 'debt' as is an intrest free pay back when you can loan from family so I won't be chased and it's not on my credit file. I am going to pay this off asap though so I don't owe anyone anything.

Mummy+2

So here is my Budget or SOA as it’s called here -

Adults - 1
Children - 2
Car - 1

Income £2308 - pay/tax credits/maintenance/child benefit/housing benefit

Rent - 400
Council tax - 22 (over 10 with single person and ct benefits)
Water - 33.80
Gas & Electric - 100 (on meters, I budget this per month summer it's less winter it's more but has averaged out at this the last 3 years)
TV licence - 12.12
Home insurance - 9.50
Phone/bb/tv - 13
Mobile - 20
Petrol & Parking - 70
Breakdown - 18.81
Food - 195 (45 per week)
Oldest Child related costs - 8.66 (2 per week school trips, baking, uniform & other random cost school decides)
Dance classes – 75.83 (17.50 per week)
Person items - 7.50 (hair dye/lady bits/make up/toiletries)
Eating out - 5 (happy meal once a month treat for kids)
Hair/opticians - 5
Entertainment - 108.33 (25 per week I know how frivolous!)
Clothing - 22.66 (5 per week definitely needed with a fast growing tot)
Youngest child related cost 35 (nappies, wipes, oat milk and dairy free stuff)
Childcare - 576.33!

Debt repayment - 220 (this is a self managed all intrest is stopped and has been running smooth ish for years now - I say smooth ish as there is one creditor that is a pain in the rear end - more of that later!)

Total out 1952.76

Total in - Total out = £355.24 surplus

I do need to have a reshuffle as there is no bedget for household items and I feel I need this, such as this week my stick blender went pop and I had to replace. No budget = taking form somewhere else to cover the cost. This only need to be something like £5 a month or so to cover for replacing items that may stop working or get damaged beyond repair (my 2 little people seem very good at doing this!) Bigger items will be covered under the emergency fund but I don’t want to eat away at this all the time for the smaller things.

I currently save £355 per month every month without fail! This is for the following -

* £1500 car related expenses tax, test, insurance and repairs, my insurance this year was £950 better than the 1.25k the year before!
* 2 x £160 kids birthdays
* £240 (20 per month) family & friends birthdays, wedding, births, random party invitations for the kids an such
* £600 Christmas I know this is slightly ridiculous but after years of second hand toys an very little I want Christmas to start being how I remember it as a kid
* £400 Holiday first ever 'family' holiday for me & the kids
* £500 Emergency fund, no explanation needed
* 700 lump sum - debt repayment possibly

I know that my SOA could be a lot leaner, £75 a month on dance classes isn’t exactly essential and I could make bigger debt repayment than £220 to clear debt faster but I am tired of scrimping and I am tired of not having a fall back emergency fund (I had one until my separation!) I’m also tired of not having ‘proper’ birthdays and Christmas or not being able to take the kids on holiday or run a car (I got back on the road in Jan after years of going without, physically and emotionally draining!)

After 4 years of tough debt repayment and an emotional battering due to my separation last year I want to feel like I am living again not just getting by. I know some won’t agree as it’s not very gung-ho in the DFW world but I am clearing my debt and doing what is best for me and my family at the same time… no one can argue with that can they?

On_my_way

Hi

I think you're actually doing really well for money! Keep going with paying your debts and all will be fine.

beanielou

At the end of the day it is your debt & it is up to you how you choose to pay it off.
I personally think your holiday & Christmas savings are too high but that is just me.

if_at_first...

You've got to pay the debts off your way otherwise you will start to resent it.


Keep doing what you are doing and good luck!

Mummy+2

beanielou wrote: »

At the end of the day it is your debt & it is up to you how you choose to pay it off.
I personally think your holiday & Christmas savings are too high but that is just me.

I agree the Christmas saving is slightly ridiculous whilst I have debt. This is nothing compared to most of my Family & friends though, saying that I most defiantly do not keep up with the Jones’ and they are all aware of my situation and understand that I will not be sending them and equally expensive gift in return. Last year my budget was £176 from my sealed pot and some Tesco and Boots vouchers I had saved up. I am always interested in what other people think is a reasonable budget and what this covers?

This is going to be the budget I am setting going forward as I want to enjoy Christmas not scrimp, worry and feel disheartened by it all, I feel it is realistic and manageable for us especially as I plan to be debt free by Christmas 2015. I will always save the money in advance for Christmas by budgeting carefully through the year, not use credit and create more debt as I think doing Christmas on credit is one of the silliest things ever and yes I have been that silly many many years ago

The Holiday budget again is something I could go without whilst I have debt but we haven’t had a family holiday and for our emotional health it will be worth every penny. I am finding £400 is tiny really and I am struggling but I am sticking to it! I am open to any suggestion on how to holiday on the cheap? This is a this year only thing and next year the £400 will be used to pay off debt

x

beanielou

How old are your littlies?

Mummy+2

They are 5 and 19 months

beanielou

So something cheap & cheerful like a caravan or holiday park would be just great.
My DS who is 21 this year(:eek:) still talks about us going to a caravan when he was 5!!!!